As a result of Letter written to the Chairman, Security and Exchange Commission of Pakistan (SECP) for implementing the Companies (Appointment of Legal Advisers Act, 1974, a meeting has been arranged, with the Commissioner, SECP (Shaukat Hussain) in the Chairman SECP Office on Monday (14-09-2020) at 11.00 am in the main SECP building by the Lawyers of Islamabad under the Leadership of Adv. Ch. Abdur Rahman Nasir, Chairman, PJEON.
The representative/Commissioner, SECP welcomed the delegation of Lawyers under the Chairmanship of Adv. Ch. Abdur Rahman Nasir, Chairman, Organization for Peace, Justice and Education (PJEON). It was suggested by the delegation that Legal Advisors Appointment Act, must be implemented in letter and spirit and it must also be regulated as per it’s mandatory provisions. All those Companies having not appointed Legal Advisors, must be questioned and bring them under the Law regarding appointment of their Legal Advisors. The respected Commissioner, SECP in principle agreed to the recommendations of the delegation and assured that SECP will issue letters to the Companies for implementation of Law and appoint Legal Advisors, as per Law and the defaulting companies shall be proceeded against in accordance with the provisions of Law on the subject.
It was also assured in the meeting by the SECP that names of Advocates will appear on the website of SECP working as Legal Advisors with the Companies.
At the end the Commissioner, SECP, appreciated the concerns of delegation of Lawyers and assured to extend their full cooperation in this regard. The Chairman (PJEON), head of the delegation, lauded the interest and steps taken by the SECP for the adjustment, appointment and welfare of Lawyers.
FROM : Advocate Ch. Abdur Rahman Nasir, LL.M, Chairman Organization for Peace, Justice and Education (PJEON) (Registered), Islamabad, Pakistan.